Sinkhole vs. Catastrophic Ground Coverage Collapse
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All FL Home Insurance policies automatically have Catastrophic Ground Collapse Coverage. Sinkhole is a little more extensive coverage, and can be added as an endorsement to the home insurance policy. Sinkholes are rarer in North and South Florida. Sinkholes occur much more often in Western and Central Florida. They are particularly common in Pasco, Hernando, Citrus, Marion, Seminole, Polk, and Lake Counties. Sinkholes are void pockets of land underground. These void land pockets sometimes give underneath causing collapse of the ground above. These ground collapses can range from mild or small (few feet), to extreme (size of a home or larger). Obviously if the ground below your home collapses your home insurance needs to cover it.
Catastrophic Ground Coverage Collapse –Under Florida law, catastrophic ground cover collapse includes geological activity resulting in the following:
- Abrupt loss of ground cover
- A depression in the ground clearly visible to the naked eye
- Structural damage to the building, including the foundation
- Government condemnation of the insured structure and an order to vacate the premises
Sinkhole coverage is more extensive and doesn’t require that the depression be visible or that the property must be condemned. Insurance
Companies have become sensitive to Sinkhole coverage, because of the abuse of coverage by a very small portion of home owners. Homes in Fl after being built often sometime settle into the ground causing small cracks in sidewalks, swimming pools, and sometime a home’s foundation. Although these cracks look bad cosmetically they are not threatening to the home’s structure. Companies usually will offer the Sinkhole coverage for $25 to $100 a year, so the coverage isn’t expensive. But most companies will require an inspection, usually a cost to the insured, to inspect that there are no existing cracks anywhere on the property, and the inspection checks to make sure no potential sinkholes exist through scientific equipment.